Friday, 25 August 2017

Trading signals

Yesterday, trading in the oil market was volatile. In the first half of the day, the oil was under pressure - the players fixed profits, but by the second half of the auction, the positive returned to the oil market. Price of black gold returned to the medium-term range of 51-53 dollars per barrel.

Today, oil is consolidating in this range amid expectations of news from the meeting in Jackson Hole, as well as Friday's data on drilling rigs. Technically, the picture shows an imminent exit from this channel, the nearest goal of the upward impulse for Brent is seen around $ 54 per barrel.

Look for careful longs at $51.55-$51.80 and lower.

Gold

Taking into account the events of today's evening, the probability for breakdown test of the lower border of the channel and the support level of 1280.55 remains very high. Moreover, we do not exclude that the breakdown will be false, when after a short contact 1270 the price will begin to recover actively and return to the abandoned channel.

In the current situation, the support is provided by the 50 simple moving average. If 50 MA holds the price from the decline, gold can rise to the middle line of the channel, into the price zone 1294-1296.50 and re-test a significant level of 1300 for breakdown. Breakthrough of this important mark and closing of the day and all week above will determine the following targets at 1375, 1400 And 1450.

At the same time, it is impossible to exclude effective sales from the area of ​​1295-1300.

Today, in view of the increased volatility, we prefer to stay out of the market, the day is kind risky for trading. For those who have open positions on gold or are going to open, we would like to draw your attention to the fact that Monday's trading, August 28, may start with a price gap , so be careful and fix your positions better before the close of today's trading.